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Mortgage Renewal Shock 2026: What Canadian Homeowners Need to Know

  The Reality: Over 60% of Canadian mortgages are renewing in 2025 and 2026—many at rates significantly higher than their original terms. While some homeowners will see relief, others face payment increases of 15–40%. This guide will help you understand what's happening, run the numbers, and explore your options before your renewal date arrives. The Big Picture: What's Happening in 2026 Canada is experiencing a historic wave of mortgage renewals. A large cohort of mortgages originated during the pandemic's historic low-rate period—when rates hovered around 2% or lower in 2020–2021—are now maturing and resetting at today's rates. The Bank of Canada staff estimate that roughly 60% of outstanding mortgages will renew in 2025 and 2026, making this the most significant renewal cycle in decades. In 2026, the average mortgage renewal increase is projected to moderate to around 6%, though individual experiences vary dramatically depending on mortgage type and renewal timing. W...
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Common Credit Card Mistakes





 Here are some common credit card mistakes that even high-credit score mavens make:

1. Carrying a balance: Carrying a balance on your credit card can lead to high-interest charges and negatively impact your credit score 1.

2. Using most or all of your credit limit: Using most or all of your credit limit can increase your credit utilization ratio, which can negatively impact your credit score 1.

3. Taking cash advances: Cash advances usually come with high fees and interest rates, making them an expensive way to borrow money 1.

4. Making late payments: Late payments can lead to late fees, increased interest rates, and negatively impact your credit score 1.

5. Chasing rewards: Chasing rewards can lead to overspending and carrying a balance on your credit card, which can negatively impact your credit score 1.



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